Saudi agro firm looks at Iraq land

dubai — Saudi Agricultural and Livestock Investment Company (Salic) is looking at more farmland investment opportunities and has its neighbour Iraq on the list.

Salic, an arm of the country’s Public Investment Fund, said it was also looking to expand its investments in the Black Sea region, which already includes 46,000 hectares of land in western Ukraine.

“We are considering many opportunities and Iraq is definitely on the list,” newly-appointed managing director Khaled Al Aboodi told Reuters.

Iraq on Wednesday received pledges of $30 billion, mostly in credit facilities and investment from allies after a major donor conference in Kuwait.

Amongst the opportunities on display for investors during the event were four million dunums (400,000 hectares) of agricultural land, Hameed Al Nayef, Iraqi agriculture ministry spokesman said.

“Agricultural land that will be offered is across Iraq and investors should choose what crops to grow but we are giving priority to strategic crops like wheat, barley, corn, sesame and rice,” he said.

The mechanism for investment in Iraqi farmland and terms will be up for negotiations with interested firms.

Al Aboodi said Salic was not at the Kuwait conference but that, “as time goes by we will look more closely”, at Iraqi farmland. —